Rhumbline Advisers Cuts Position in SVB Financial Group (SIVB)

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Rhumbline Advisers reduced its position in SVB Financial Group (NASDAQ:SIVB) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 88,337 shares of the bank’s stock after selling 1,799 shares during the period. Rhumbline Advisers’ holdings in SVB Financial Group were worth $16,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crossmark Global Holdings Inc. raised its position in SVB Financial Group by 76.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,149 shares of the bank’s stock valued at $1,738,000 after purchasing an additional 3,950 shares during the period. Advisors Asset Management Inc. raised its position in SVB Financial Group by 114.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,969 shares of the bank’s stock valued at $374,000 after purchasing an additional 1,051 shares during the period. Xact Kapitalforvaltning AB raised its position in SVB Financial Group by 14.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 9,724 shares of the bank’s stock valued at $1,847,000 after purchasing an additional 1,200 shares during the period. Handelsbanken Fonder AB raised its position in SVB Financial Group by 12.1% in the fourth quarter. Handelsbanken Fonder AB now owns 231,829 shares of the bank’s stock valued at $44,029,000 after purchasing an additional 24,940 shares during the period. Finally, AMF Pensionsforsakring AB grew its stake in shares of SVB Financial Group by 3.0% during the fourth quarter. AMF Pensionsforsakring AB now owns 104,603 shares of the bank’s stock valued at $19,866,000 after acquiring an additional 3,010 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SIVB opened at $238.75 on Tuesday. The stock has a market capitalization of $12.42 billion, a P/E ratio of 13.10, a PEG ratio of 1.14 and a beta of 2.05. SVB Financial Group has a one year low of $177.70 and a one year high of $333.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.65 and a quick ratio of 0.63.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, January 24th. The bank reported $4.96 EPS for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.27. The business had revenue of $673.69 million during the quarter, compared to the consensus estimate of $697.89 million. SVB Financial Group had a return on equity of 19.90% and a net margin of 35.87%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm earned $2.19 earnings per share. On average, analysts predict that SVB Financial Group will post 20.39 EPS for the current year.

SVB Financial Group declared that its Board of Directors has approved a share buyback plan on Tuesday, November 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In related news, insider Philip C. Cox sold 620 shares of SVB Financial Group stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total value of $148,155.20. Following the completion of the transaction, the insider now directly owns 6,511 shares in the company, valued at $1,555,868.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Draper sold 1,748 shares of SVB Financial Group stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $238.44, for a total value of $416,793.12. Following the completion of the transaction, the insider now owns 7,573 shares of the company’s stock, valued at $1,805,706.12. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the company. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a research note on Wednesday, January 23rd. BidaskClub upgraded SVB Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 29th. Piper Jaffray Companies set a $291.00 target price on SVB Financial Group and gave the company a “buy” rating in a research note on Friday, January 25th. ValuEngine upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, SunTrust Banks raised their target price on SVB Financial Group to $280.00 and gave the company a “buy” rating in a research note on Monday, January 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. SVB Financial Group presently has an average rating of “Buy” and a consensus price target of $317.24.

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SVB Financial Group Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.

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Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).

Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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